DORAL, Fla.--(BUSINESS WIRE)--Molina Healthcare, Inc. (NYSE: MOH) announced today that its wholly
owned subsidiary Molina Healthcare of Florida, Inc. has entered into a
definitive agreement with First Coast Advantage, LLC to acquire certain
assets related to First Coast Advantage’s Medicaid business. As a part
of the transaction, Molina Healthcare of Florida will assume First Coast
Advantage’s Medicaid contract and certain provider agreements for Region
4 of the Statewide Medicaid Managed Care (SMMC) Managed Medical
Assistance (MMA) Program in the State of Florida. The closing of the
transaction is subject to the satisfaction of customary closing
conditions, including obtaining approval for the transaction from the
Florida Agency for Health Care Administration (AHCA).

First Coast Advantage, a provider-owned Provider Service Network
affiliated with the University of Florida Jacksonville Healthcare and UF
Health Jacksonville, provides health care coverage to approximately
65,500 individuals. In 2013,First Coast Advantage was awarded a
contract to participate in the MMA program for Region 4, which includes
Baker, Clay, Duval, Flagler, Nassau, St. Johns and Volusia counties.

“We will be very excited to welcome First Coast Advantage’s members to
Molina Healthcare and look forward to partnering with the University of
Florida Health Care Network and Shands providers at the closing of this
transaction,” said David Pollack, president of Molina Healthcare of
Florida. “We are committed to providing high quality care for our
members, and would be proud to bring our innovative care model to serve
the population of Northeast Florida.”

Molina Healthcare of Florida was one of several managed care
organizations selected by AHCA to participate in the MMA Program for
Palm Beach, Miami-Dade, Orange, Brevard, Osceola, St. Lucie, Seminole,
Indian River, Martin, Okeechobee and Monroe counties.Molina
Healthcare of Florida also participates in Florida’s Long-Term Care
Program in Miami-Dade, Monroe, Pasco, Pinellas, Hillsborough, Polk,
Manatee, Hardee and Highland counties.

In addition to Medicaid and Medicare, Molina Healthcare of Florida
offers certified Qualified Health Plans to individuals on the Florida
Health Insurance Exchange in the non-group health insurance marketplace
and participates in Miami-Dade, Broward and Palm Beach counties. Molina
Healthcare, Inc. administers two primary care clinics in the state in
Riviera Beach and West Palm Beach through its affiliate American Family
Care, Inc.

About Molina Healthcare

Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health
care services under the Medicaid and Medicare programs and through the
state insurance marketplaces. Through our locally operated health plans
in 11 states across the nation, Molina currently serves approximately
2.3 million members. Dr. C. David Molina founded our company in 1980 as
a provider organization serving low-income families in Southern
California. Today, we continue his mission of providing high quality and
cost-effective health care to those who need it most. For more
information about Molina Healthcare, please visit our website at www.molinahealthcare.com.

Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This release contains “forward-looking
statements” regarding the proposed transaction between First Coast
Advantage and our Florida health plan. All of our forward-looking
statements are based on our current expectations that are subject to
numerous risk factors that could cause actual results to differ
materially. Such risk factors include, without limitation, risks related
to: the satisfaction or waiver of closing conditions for the
transaction, successfully transitioning and integrating First Coast
Advantage’s members into our health plan, attrition in membership
pending the completion of and following the transition, maintaining
provider relations, accurately estimating incurred but not reported
medical costs with respect to this new population, and the possibility
that the transaction will not be completed on a timely basis or at all.
Additional information regarding the risk factors to which we are
subject is provided in greater detail in our periodic reports and
filings with the Securities and Exchange Commission, including our most
recent Annual Report on Form 10-K. These reports can be accessed under
the investor relations tab of our company website or on the SEC’s
website at www.sec.gov.
Given these risks and uncertainties, we can give no assurances that our
forward-looking statements will prove to be accurate, or that any other
results or events projected or contemplated by our forward-looking
statements will in fact occur, and we caution investors not to place
undue reliance on these statements. All forward-looking statements in
this release represent our judgment as of the date hereof, and we
disclaim any obligation to update any forward-looking statements to
conform the statement to actual results or changes in our expectations
that occur after the date of this release.